The European Investment Bank (EIB) has signed a 250 million euro loan agreement with TenneT for the construction of a 40-kilometer transmission corridor from Eemshaven to Vierverlaten in the north of the Netherlands. The project will enable more and more offshore wind energy to be transmitted to users in the Netherlands and other regions.

The new transmission corridor will double the capacity of the existing 220 kV circuit. The corridor funded by EIB includes a new 380kV line from Eemshaven to Vierverlaten, along with a 110kV line for part of the line, and a new 380/220kV substation in Vierverlaten.

Once the new transmission line is put into operation in 2024, the existing smaller-capacity lines along the same route will be decommissioned, and the project will double the overall capacity of the existing 220kV line. The new grid connection will help avoid the congestion of the Dutch high-voltage grid, especially after the nearby wind farm is being developed and put into operation, the project will further promote the transfer of green power to the demand center.

Eemshaven has also been designated by the Dutch Ministry of Economic Affairs as the landing site for the planned offshore wind farm "Ten noorden van de Waddeneilanden" (700MW). "As the EU Climate Bank, supporting clean energy transmission is one of the main goals of the European Investment Bank." EIB Vice President Kris Peeters said. Peeters added: "The Dutch ambitious renewable energy generation goals will require more investment in the transmission network. I am very pleased that the European Investment Bank can help provide financing to facilitate the realization of these goals. This project will help the Netherlands and others Users in the region provide safe and sustainable electricity."

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TenneT’s Chief Financial Officer Otto Jager added: “TenneT is one of the largest investors in the European energy transition and a long-term partner because it needs EIB to help raise funds. Today’s transaction highlights our strong relationship with the European Investment Bank. We I am proud that the European Investment Bank is funding this corridor for projects in the common interest of the European Union." EIB has also increased its total loan commitment to TenneT, which is currently 1.8 billion euros.Editor/Baohongying